USD/CNH: No change to the consolidative theme – UOB
|FX Strategists still see USD/CNH consolidating within the 6.4400-6.5000 area in the next weeks.
Key Quotes
24-hour view: “Our expectation for USD to ‘weaken further’ yesterday did not materialize as it traded in a quiet manner between 6.4639 and 6.4775. The quiet price actions offer no fresh clues and USD could trade sideways for today, expected to be within a 6.4600/6.4800 range.”
Next 1-3 weeks: “There is not much to add to our update from yesterday (22 Jul, spot at 6.4660). As highlighted, USD is still in a consolidation and it could trade sideways between 6.4400 and 6.5000 for now.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.